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The state is taking the
next step to help RoundLake
school officials deal with the financial difficulties that have beset their
district – an oversight panel appointed by the state superintendent.

Last
week, the Illinois State Board of Education voted to accept a request from RoundLakeAreaSchool
District 116 to set up the three-member panel to
oversee its finances.State
Superintendent of Education Glenn W. McGee today announced his appointments to
the panel.

The local
school board will continue to be responsible for running the district.The district’s finances, however, will be
subject to review and approval by the Financial Oversight Panel, which will
ensure that the district establishes a viable financial plan and adheres to its
provisions.

Round Lake has been certified “in
financial difficulty” since 1992, which required that an annual financial plan
be submitted to the State Board.Despite
its best efforts, the district’s financial status has not improved.

This spring, the community showed
its support for restoring the district’s finances by approving two referendums,
a $14.7 million building bond and a $.45 increase in the education tax
rate.Even with this strong community
support, the district recognized the need for the establishment of a Financial
Oversight Panel to get its finances in order.

Under the Financial Oversight Panel,
the district is eligible for state emergency financial assistance if the panel
concludes it is needed to meet the financial plan it approves for the
district.Provisions of the Illinois
School Code make the district eligible for up to $250 per student in an
emergency financial assistance grant and up to $1,000 per student in an
emergency loan.The panel would submit
the request for emergency assistance to the State Board for approval.

Marc Spivak, a former school board
president, will serve as the panel’s chairman.William L. Thompson, a former district and regional superintendent in LakeCounty, and Joseph Monahan,
retired business manager of NilesTownshipHighSchool district 219, round out the panel’s
membership.

“These individuals bring outstanding
skills, knowledge and experience to the challenge of restoring the finances of
the RoundLake schools,” said McGee.“They are sincerely interested in ensuring
the quality of education for RoundLake students, and I appreciate
their willingness to assist the district.”

One of the first tasks for the panel
will be the appointment of a financial administrator, who will act as the
panel’s chief executive officer.

The panel will also review the
district’s request for emergency financial assistance, which could make
additional state funds available to help the district meet its operational
needs.If the State Board of Education
determines that such assistance is appropriate, the district would be eligible
to receive as much as $250 per student in an emergency assistance grant and
$1,000 per student in an emergency assistance loan.

Under
current law, the Financial Oversight Panel will be in place for at least three
years, with a limit of 10 years.

The panel’s powers include, but are
not limited to, the following:

·Requiring the district to develop and gain approval of an annual
financial plan.

·Requiring an annual balanced budget in accordance with accounting
systems and procedures prescribed by the panel.

·Approving any and all bonds, notes and other evidences of indebtedness
prior to issuance or sale by the district.

·Approving all contracts and other obligations the panel deems
necessary.

·Authorizing a proposal for emergency financial assistance from the state.

The financial administrator
appointed by the panel will work with the RoundLake school board and district
officials to develop the budget and financial plan for the district.Under the direction of the panel, the
administrator may direct the local school board in reorganizing its accounts,
accounting and financial controls and budgetary systems.The administrator also serves as an advisor
to the Financial Oversight Panel, making recommendations on matters that fall
within the panel’s authority.

Round Lake is the third school
district to have such a panel appointed.

Marc Spivak, an attorney with the Chicago firm of Topper and Weiss,
served on the board of Kildeer Countryside Community Consolidated School
District 96 in Buffalo Grove from 1983 to 1999, the last eight years as its
president.He and his wife Marilyn live
in Buffalo
Grove
and have two sons.

William Thompson has extensive
experience in school administration, including 10 years as superintendent of
Fox Lake Grade School District 114, four years as first assistant
superintendent for the Lake County Educational Service Region and 12 years as
regional superintendent.Since 1991, he
has worked as a consultant to the regional superintendent.Thompson is the father of five children.He and his wife live in Antioch.

Joseph Monahan’s background in
financial management includes work in the corporate and educational
fields.He recently retired from a
position as business manager for Niles Township High School District 219 and
before that worked as controller and director of internal audit for the Chicago public schools after
gaining audit experience at W.R. Grace and IBM.Since retiring in 1997, Monahan has held several interim and special
assignment positions for area schools and districts.Monahan is a resident of Elmwood Park.

The Panel’s first meeting will be Friday, June 2 at 11:00 a.m. in the LakeCounty Regional Office of
Education, 800 Lancer Lane,
Grayslake.